I agree with #1 hbberlin, at least for Canada.,
In higher education (college/university), the courses taken and marks received are given in a transcript. (Zeugnis)
A diploma indicates the degree (e.g., BA) with the major.
I would see a certificate as being "less" than a diploma, i.e., for a specific course or program that is not a full post-secondary degree - possibly for a 3-month course or a refresher of some sort, for example.
Edit: report (card) would be used for elementary/high school.